Newly reappointed Tasmanian Premier Jeremy Rockliff has an unenviable task ahead in repairing the state’s budget. Photo: Jeremy Rockliff, Facebook.
The Tasmanian Government has released the Preliminary Outcomes Report 2024-25, comparing Tasmania’s unaudited financial record against budget forecasts.
A government statement on the estimates expresses optimism about improvement in the Revised Estimates Report (RER) for 2024-25, released in February this year, while also showing caution towards the challenge of budget repair.
The budget remains a looming hurdle for the Premier, who has been returned to government with a lukewarm mandate.
Preliminary net operating balance has degraded $412.5 million from the 2024-25 original budget estimate. The government said this was driven by cost increases in health and education, though it was lower than the forecast in the RER by $90 million.
In terms of the preliminary net debt outcome for the government sector, the number sits at almost $400 million under the original budget estimate for 2024-25.
Newly appointed Treasurer Eric Abetz indicated that the repair task ahead would be difficult, while emphasising a need to maintain core government services.
“Like all states, Tasmania is continuing to grapple with rising service delivery costs and increased demand in key areas such as health, while managing the impacts of national economic conditions,” Mr Abetz said.
“As we lead into both the 2025-26 and 2026-27 Budget development processes, I look forward to continued discussions with all members of Parliament, and we will be involving the Multi-Partisan Budget Matters Panel as we work together to achieve long-term fiscal sustainability while continuing to deliver core services to our community.”
The final outcomes for the financial year will be published in the Treasurer’s Annual Financial Report by 31 October.
A full report is available on the government’s Treasury website.
